The Qatar Stock Exchange on Sunday opened the week on a stronger note and its key index gained more than 108 points to inch near the 10,600 levels, primarily lifted by weakened net selling by domestic funds and local retail investors.
The telecom, insurance, industrials and real estate counters witnessed higher than average demand as the 20-stock Qatar Index rose 1.04% to 10,587.1 points, although it touched an intraday high of 10,611 points. The reports of the arrival of first shipment of Covid-19 vaccine appear to have favoured the sentiments.
The bullish outlook of Gulf funds and Arab individuals also had played their role in boosting the market, whose year-to-date gains were at 1.55%.
Trade turnover shrank amidst higher volumes in the bourse, where the banking and industrials sectors together accounted for more than 68% of the total trading volume.
However, Arab funds turned bearish and there was weakened net buying by foreign institutions in the market, whose capitalisation saw about QR6bn or about 1% increase to QR609.69bn, mainly on large and midcap segments.
A total of 20,160 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR89,650 changed hands across four deals.
The Total Return Index gained 1.04% to 20,353.35 points, the All Share Index by 0.97% to 3,239.48 points and the Al Rayan Islamic Index (Price) by 0.96% to 2,423.94 points in the bourse, where a total of 100,000 sovereign bonds valued at QR1mn trade across three deals.
The telecom sector index soared 3.17%, insurance (1.63%), industrials (1.57%), realty (1.4%), banks and financial services (0.76%) and consumer goods and services (0.65%)l whereas transport declined 0.5%.
Major gainers included Qatari German Medical Devices, Gulf International Services, Ooredoo, Alijarah Holding, United Development Company, QIIB, Masraf Al Rayan, Industries Qatar, Salam International Investment, Qatar Electricity and Water and Qatar Insurance; even as Qatar Industrial Manufacturing, Mannai Corporation, Zad Holding, Nakilat, Gulf Warehousing and Dlala were among the losers.
Gulf institutions turned net buyers to the tune of QR8.91mn compared with net sellers of QR1.5mn on December 16.
Arab individuals were net buyers to the extent of QR7.36mn against net sellers of QR5.42mn the previous trading day.
Local individuals’ net profit booking eased considerably to QR30.37mn compared to QR54.77mn last Wednesday.
Domestic funds’ net selling declined marginally to QR14.77mn against QR15.12mn on December 16.
However, Gulf individuals turned net sellers to the extent of QR2.1mn compared with net buyers of QR5.85mn the previous trading day.
Arab institutions were also net sellers to the tune of QR0.88mn against net buyers of QR0.04mn last Wednesday.
Foreign funds’ net buying weakened markedly to QR31.76mn compared to QR70.67mn on December 16.
Foreign individuals’ net profit booking fell marginally to QR0.11mn against QR0.14mn the previous trading day.
Total trade volumes grew 41% to 260.04mn shares, while value fell 22% to QR553.25mn and transactions by 15% to 9,618.
The industrials sector’s trade volume soared 79% to 81.76mn equities, value by 42% to QR120.41mn and deals by 39% to 2,230.
The real estate sector reported a 58% surge in trade volume to 31.46mn stocks and 50% in value to QR54.79mn but on 2% fall in transactions to 1,142.
The banks and financial services sector’s trade volume shot up 52% to 95.62mn shares, while value shrank 38% to QR247.41mn and deals by 28% to 3,491.
There was a 51% expansion in the insurance sector’s trade volume to 2.87mn equities, 1% in value to QR4.81mn and 40% in transactions to 123.
The consumer goods and services sector’s trade volume jumped 41% to 37.52mn stocks, value by 35% to QR85.1mn and deals by 29% to 1,635.
However, the transport sector saw a 84% plunge in trade volume to 2.55mn shares, 79% in value to QR11.71mn and 59% in transactions to 260.
The telecom sector’s trade volume tanked 29% to 8.27mn equities, value by 59% to QR29.02mn and deals by 57% to 737.